BRICS Are Launching Their Own Currency!! Is The Dollar Doomed?

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  1. I find it hard to believe that these numbers tell the whole story. Remember that the BIS/IMF/etc are all on team USD, and the DYX also mostly contrasts with other currencies also linked to “the West”. So both of these will put a positive spin on the dollar’s performance/dominance.

  2. But George, USA is such a import dependent country. What if BRICS locks up most of the Commodities producing countries to accept BRICS money only. Then US will have to ship out dollars for $BRICS commodities and Chinese goods and BRICS uses THAT to pay off all the dollar debt.

  3. you are wrong. u.s. has negative trade balance, the usd economy is still afloat because the main export we have is usd. if we cant export usd then the trade deficit will become a real deficit and that will bring the hyperinflation and you forget the massive internal debt the budget deficit and it makes about 20 trillions per year , compare to the 60 trillion we still able to inflate to the world that is catastrophic it means 30% inflation as minimum

  4. Why should Japan or others have to have a liability on their books if they BOUGHT 1 trillion of US DOllars for transactions they need to make for Oil and gas? There is no need for a liability on Japans Books for BUying with their money or assets they had to exchange for US Dollars.

  5. So let me get this straight: you want to go from a currency that's opaque, heavily manipulated, and owned by a country that weaponizes it against others who disagree with them to a currency that's even more opaque, even more heavily manipulated, and owned by a handful of authoritarian countries that will likely weaponize it against anyone who disagrees with them?

  6. Good America is a sinning nation spreading mental disorder and Babylonian worship and pedophilia sexual deviance transgenderism legalized deformity of children abortion and the list goes on. America and the west must be stopped or nothing will be left alive on this earth. I live here in America and know that my country is destroying humanity.

  7. This is when George get it wrong. He is viewing from the perspective of US economy only. Understand that CURRENTLY, international trade DEMANDS USD as currency for payment. When OTHER currencies are allowed or used for payment, the DEMAND for USD drop hence the value of USD drops in respect of other currencies.

    For example, China and Malaysia would settle their trade in their own currencies. USD is out of the equation. ASEAN and China already have currencies swaps for this purpose.

    So whatever BALANCE SHEET issue George is talking about will be settled off with their USD income as other nations transition to their own currencies for international trade. This will take some time due to the size of "$60 Trillion" of USD denominated trade/debt but it will get there eventually. USD will remain dominant at the moment and may experience a spike in "value" while other nations are scrambling for USD to pay off their debt but it will plunge thereafter.

    And US Treasury will experience increase interest rate since other nations may not require to hold Treasuries as their "savings".

  8. I disagree. The BRICS are considering this so that they can trade commodities and services without using the dollar at all. Then, the dollar will float freely against this other new currency. Presumably, the petro-dollar will be broken too, with, say, half of the trade in oil being done in the new BRICS "bucks." What then, is the value of a barrel of oil in BRICS bucks vs. dollars? The world price of oil would no longer be a single number. It would be priced in dollars for the U.S., sure, but also priced in BRICS Bucks for BRICS (extended) countries, and oil producers could decide which countries to sell it to, taking in either BRICS Bucks or dollars, depending on which is more valuable in the open currency exchange market. The U.S. might try to enforce its hegemony through aggression such as it is doing now, or has done in the past with Iraq (under Saddam Hussein), Libya (gold dinar under Qaddafi), but this is wearing pretty thin. Plus, we are using Taiwan chips and importing other defense products, including raw materials, and those countries could just decide to cut us out and sell those things among themselves instead. Then, you'd have international inflation to buy these imports, driving down the value of the dollar here at home too; domestic and foreign dollars are not as isolated as you make out.
    Do foreigners really want to buy so much Florida Real Estate? Maybe not, if the value of the dollar goes down when it's not the reserve currency anymore.

  9. As this controlled orchestrated premeditated manufactured demolition crisis continues it is apart of The New Normal 2 Build Back Better in2 The New Green Deal towards The Great Reset as The Financial Climat Change engulfs society in2 Financial Serfdom they will continue 2 consolidate wealth and power in2 the hands of the F.E.W.🤑👉A man with a gun can rob a bank. A man that owns a bank can rob the W🌎RLD"

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